Blockchain technology- A guide for beginners

ABOUT BLOCKCHAIN TECHNOLOGY:

Blockchain is a kind of system of recording a peice of information that protects the data and makes it difficult to change, hack or cheat the system. A blockchain ca be understood as a digital ledger of transactions tht is first duplicated an then distributed across the entire network of computer systems which are a part of the blockchain.

For layman as the name suggests blockchain literally means a chain consisting of blocks. Here we are actually talking about digital information( 'block' ) stored in a public database ('chain'). A single block on the bitcoinchain can store a data upto 1MB. A single transaction on Amazon doesnot essentially means a block but it can be considered as a house of a few hundreds of transactions depending upon its size.

A BRIEF DESCRIPTION OF BLOCKCHAIN ARCHITECTURE FOR BEGINNERS:

The four main parts of a blockchain are:

• Blocks
• Transactions
• Mining
• Consensus

There are basically three types of blockchain architecture, namely, private, public and consortium blockchain architecture.

WHERE CAN BLOCKCHAIN BE USED:

• Using smart contracts for election polls: This new technology is absolutely tremendous. It helps us to keep a check and eliminate fraud and provides transparency to the voting mechanism and keeps the identity of the voters anonymous.
• The protection of your intellectual rights: Archiving feature provided by blockchain system will secure your intellectual property like never before. An application, called Ascribe, already provides such kind of service and protection.
• File storage and archiving: Centralized sites are irresistible to the hackers. Blockchain with its smart contracts provide a plethora of features to potentially reduce this great threat. The content is stored on various secured anonymous computer systems rather than on data centers.
• IoT (Internet Of Things): IoT is the network of vehicles, physical devices and other items embedded with sensors, software, actuators, connected to the Internet. This features enables such objects to collect and exchange data. Blockchain is a amazing platform for such stuff!
• A warranty claim: In today's era insurance claim is usually checked manually by humans which is often time-consuming and may contain some errors. This can be done by using blockchain. When all obligations are met with, the system might generate a payout receipt.

BLOCKCHAIN TECHNOLOGY FOR BEGINNERS:

If you really want to master blockchain technology, then start with some basic programming. It is advised to begin with C++ first and then you can work upon Python, JavaScript, Go and Solidity.

When you are to make a choice for your blockchain network, then go for Enthereum. It has an excellent community which will surely help you to hone up your skills and boost your confidence!

SKILLS NEEDED FOR BECOMING A SUCCESSFUL BLOCKCHAIN DEVELOPER:

• Smart contracts
• Cryptography
• Web development
• Data Structures
• Block chain architecture